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New York - Wall Street equities jumped in opening trade on Wednesday as investors tried to snap a six-day losing streak prompted by turmoil in the Chinese stock market.
About 20 minutes into trade, the Dow Jones Industrial Average stood at 15 985.73, up 319.29 points.
The broad-based S&P 500 rose 2.09% to 1 906.70, while the tech-rich Nasdaq Composite Index gained 2.35% at 4 612.30.
The buoyant start in the US recalled Tuesday's confident open, which evaporated in the last hour, pushing the S&P 500 down 1.35%.
Global markets were mixed on Wednesday, with European stocks near flat and Japan's Nikkei rising 3.20%. The Shanghai index fell 1.27% as monetary stimulus by the Chinese central bank failed to prompt a turnaround.
US data showed new orders for durable manufactured goods rose solidly in July.
Schlumberger announced a $14.8bn acquisition of oilfield equipment maker Cameron, the latest big transaction as oil prices linger near six and half year lows. Cameron rocketed 44.6% higher, while Schlumberger fell 2.4%.
The Schlumberger transaction "should ignite some bargain-hunting interest in the energy sector," said Briefing.com analyst Patrick O'Hare.
O'Hare said Wednesday's open was impressive, but added, "it's not how you start, but how you finish."
